GM!
Today’s top news:
• Crypto majors are mixed ahead of CPI; BTC at $62.7k
• Saylor sells $467M in MSTR.Chart shows
• ETFs flip to outflows as BTC ETFs see $425M exodus
• BTC and ETH social media posts fall to 6‑year lows
• Jupiter announces new gacha platform powered by Collector Crypt (CARDS +20%)
Strategy Raises $467M and Skips Bitcoin for a Third Straight Week
Strategy’s Bitcoin‑buying machine remained neutral last week. The company raised $467 million by issuing common shares and allocated the entire proceeds to cash, elevating its USD reserve to a record $3 billion. Consequently, the firm made no Bitcoin purchase for the third consecutive week.
The capital raise added roughly 18 % to Strategy’s cash reserves in a single move, giving the company more than 20 months of coverage against its $1.76 billion annual dividend and interest obligations. All of that week’s capital‑market activity therefore reinforced the balance sheet’s cash cushion. Since its last Bitcoin purchase on June 22, Strategy has generated about $215 million from selling Bitcoin—less than half the amount obtained from the recent stock issuance. The stock sales are now delivering moreENSION than Bitcoin sales.
Once again, Saylor has issued common shares to fund dividend payments on his preferred stock.kai holders have been diluted to pay STRC holders. MSTR fell 4 % Monday to around $90.80, down 18 % over the month, although it has steadied since reaching a 28‑month low of $81.81 in late June. STRC sits at $87.04, still below its $100 par value where it has lingered since mid‑May while paying a 12 % dividend. Bitcoin at $62,600 against an average cost of $75,476 means the 843,775‑coin stack remains roughly $11 billion underwater.
The bigger question remains: why is Strategy refraining from buying Bitcoin at current prices? Raising cash to alleviate market concerns and to fund future debt payments made sense when cash was scarce, but with the firm flush, the 20‑month runway, and the proven ability to generate liquidity through share sales, the case for purchasing Bitcoin below its all‑time high is strong. The delay raises scrutiny on future buying plans.
Democratic Opposition to the CLARITY Act Grows With Four Weeks Left
Senate Democrats are hardening against the CLARITY Act, citing concerns over the impact of crypto holdings in Trade‑Department‑approved sanctuaries. Elizabeth Warren has demanded that the bill prohibit the president, vice president, senior ಒಳ officials, members of Congress, and their families from profiting off the crypto industry. Other Senators, including Chris Murphy and Chris Van Hollen, are preparing to hold a press conference emphasizing Trump’s $1.2 billion crypto portfolio and the legislation’s proposed erosion of post‑Great‑Depression financial oversight.
PASSAGE The bill requires 60 votes, meaning at least seven Democrats would need to cross party lines, a formidable hurdle given the thinner Republican bench after Mitch McConnell’s hospitalization and Lindsey Graham’s recent passing. Trump’s argument that the Senate should pass the bill in Graham’s honor undermines the bipartisan worldview that the bill is grounded on. The timing of the vote is critical—four weeks remain before the Augustבעת recess, and a missed bill implies it dies ahead of the 2024 midterm elections. The industry’s unfavourable forecast has already slashed probability to 50 % and the low 40 % range in prediction markets.
Macro Crypto and Markets
• Crypto majors are mixed ahead of CPI; BTC at $62.7k; ETH +1 % at $1,795; SOL –1 % at $75; HYPE –2 % at $64
• HASH (+11 %), INJ (+5 %) and ENA (+5 %) led top movers
• Oil +10 % at $81; Gold –1 % at $4,020
• Stock futures are mixed as oil spikes and June CPI data comes this AM; DOW –0.7 %, NASDAQ +0.3 %
• June CEX volumes fell 5 % from May, while derivatives trading rose 4 %<拿大>BTC and ETH social media posts have fallen to their lowest level since 2020
• Coinbase CEO Brian Armstrong admitted Base “messed up” on content coins, and that Base pivoted away early Zig this year to focus on trading, payments, and AI agents
• BlackRock, Goldman Sachs, and JPMorgan joined a 54‑firm UK tokenization taskforce backed by the government, now targeting tokenized repo with an estimated £33 billion annual output by 2035
• TeraWulf says it has shifted from mining to AI infrastructure with its $19 billion Anthropic hosting deal
• SBI Holdings’ blockchain initiative pivoted to Solana for tokenization and stablecoin issuance, integrating the Solana Foundation into a joint venture for AI agent payment infrastructure
Corporate Treasuries & ETFs
Meme Coin Tracker
• Meme leaders were mostly red down 1‑2 %; DOGE even, SHIB –2 %, PEPE –1 %, PENGU –4 %, TRUMP –1 %, BONK –2 %
• Robinhood chain memes led by Cashcat +8 % to $180 M, WOOD +70 % to $15 M, Wishbone +45 % to $9 M
• Febu (+60 %), three (+100 %) and Cards +20 % were notable Solana movers
Myriad Market of the Day
Token, Airdrop & Protocol Tracker
What is happening in NFTs?
• NFT leaders were mixed; Punks 32.4 ETH, BAYC +1 % at 8.94 ETH, Pudgy –1 % at 4.33 ETH; Hypurr’s –4 % at 179 replacements
• PXL NET (+60 %) and Squiggles (+10 %) led top movers
• New Robinhood NFT sets jumped, including RH Miners (+1350 %) and 8skullz (+340 %)
